Break the 5 day winning streak The major indices are closing the day with modest losses. The declines did break a 5 day up streak. The good news is the major indices are ending the day well off the lows.

How did the narrative shift so quickly? A year ago every economist on TV was talking about how we were on the precipice of global synchronized growth. Now all everyone wants to talk about is a recession.

Major financials traditionally start the earnings season Next week, the earnings season starts with the traditional bank earnings highlighting the calendar. Citigroup, JPMorgan, Charles Schwab, Bank of America, Bank of New York, PNC Financial, American Express and Goldman Sachs are all scheduled to release.

Fresh report UK Cabinet ministers are exploring ‘Plan B’ options for if/when May loses next week’s Brexit vote, according to Bloomberg. The report cites people familiar with the thinking of ministers. They also said that May could seek Jeremy Corbyn’s help on securing the vote.

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